Multi-function smart tokenizing electronic payment device

ABSTRACT

An embodiment includes a multi-function electronic device capable of generating a programmed magnetic field of alternating polarity based on a speed of a card swipe, and methods for constructing the device for the purpose of emulating a standard credit card. An apparatus is described to allow the device to emulate behavior of a credit card when used in electronic credit card readers. Additionally, methods are described to allow user control of the device for the purpose of authorizing or controlling use of the device in the application of credit, debit and cash transactions, including cryptocurrency and device-to-device transactions. Methods are also described for generating a limited-duration payment number when performing a transaction for the purpose of creating a limited-use payment number, which is limited in scope of use to a predetermined number of authorized transactions. Furthermore the device may interact with other similar devices in proximity for the purpose of funds or credit/debit transfers.

RELATED APPLICATIONS

This is a Continuation application of commonly-owned U.S. patentapplication Ser. No. 17/075,637, now U.S. Pat. No. 11,176,538, filedOct. 2, 2020, which in turn was in turn a Continuation application ofcommonly-owned U.S. patent application Ser. No. 16/459,150, now U.S.Pat. No. 10,810,579, filed Jul. 1, 2019, which in turn was aContinuation application of commonly-owned U.S. patent application Ser.No. 15/701,261, now U.S. Pat. No. 10,339,520, filed Sep. 11, 2017, whichin turn was a Continuation application U.S. patent application Ser. No.14/981,757, filed Dec. 28, 2015, now U.S. Pat. No. 9,760,884, which inturn was a continuation of U.S. patent application Ser. No. 14/680,979,filed Apr. 7, 2015, now U.S. Pat. No. 9,224,083, which in turn was aDivision of U.S. patent application Ser. No. 14/217,261, filed Mar. 17,2014, now U.S. Pat. No. 9,022,286, which in turn claims priority fromProvisional Application 61/794,891, filed Mar. 15, 2013, each of whichare hereby incorporated herein in their entirety by reference.

FIELD OF THE INVENTION

Embodiments according to the present disclosure generally relate toelectronic or smart payment devices and, more specifically, to moresecure, smart multi-function smart tokenizing electronic payment devicesand transaction processing thereof.

BACKGROUND OF THE INVENTION

There are several different types of credit cards available in themarketplace at present. A first type of credit card is a conventional,standard piece of plastic with a magnetic strip, which is readilyavailable and in wide commercial use. The advantage of this first typeof credit card is that a large portion of the infrastructure for creditcard transactions is built around this type of card, and consequentlysuch a card works in a wide array of vendors' credit card machines,automated teller machines (ATMs), and other devices that support thepresent credit card and banking infrastructure.

Another type of credit card device employs the use of a smart integratedcircuit chip. These types of credit cards have a built-in microprocessorwith cryptographic capabilities. These microprocessors operate in asimilar manner to a cell phone having a chip comprising a cryptographicprocessor. Such a smart card device requires contact with a reader inorder to be read and to perform a transaction. The reader provides themanner in which a facility interacts with the built-in processor on thecard, e.g., for purposes of performing verification on the authenticityof the card or for making a direct deposit on the card. These creditcard devices also comprise a magnetic strip such that they arecompatible with standard plastic credit card readers in wide use.

A different type of credit card device in circulation employs radiofrequency identification (“RFID”). These cards essentially have alow-power RF antenna built into the card, and when the cardholder passesthe antenna in front of a reader comprising an RF field, enough power isgenerated to enable the processor to interact wirelessly with thereceiving device.

A concern with each of these types of credit cards presently availablein the marketplace is that they can all be, in various ways, susceptibleto theft and/or compromise. Therefore, these types of credit cards havesecurity limitations. Further, cards employing smart integrated circuitchips and RF technology are not in wide use at present because they areincompatible with existing credit card infrastructure, which stillpredominantly supports conventional plastic credit cards.

SUMMARY OF THE INVENTION

This Summary is provided to introduce a selection of concepts in asimplified form that are further described below in the DetailedDescription. This Summary is not intended to identify key features oressential features of the claimed subject matter, nor is it intended tobe used to limit the scope of the claimed subject matter.

An embodiment includes a multi-function electronic device capable ofgenerating a programmed magnetic field of alternating polarity based ona speed of a card swipe, and methods for constructing the device for thepurpose of emulating a standard credit card. An apparatus is describedto allow said device to emulate behavior of a credit card when used inelectronic credit card readers. Additionally, methods are described toallow user control of said device for the purpose of authorizing orcontrolling use of said device in the application of credit, debit andcash transactions, including cryptocurrency and device-to-devicetransactions. Methods are also described for generating alimited-duration payment number when performing a transaction for thepurpose of creating a limited-use payment number, which is limited inscope of use to a predetermined number of authorized transactions.Furthermore, said device may interact with other similar devices inproximity for the purpose of funds or credit/debit transfers.

More specifically, an aspect of the present disclosure provides anapparatus comprising: a thin card shaped sized body; a memory operativeto store a plurality of identification data; a processor coupled to thememory; a user interface for selecting a select identification data ofsaid plurality of identification data; a magnetic card reader detectionunit for determining if the body is adjacent to a standard magnetic cardreader; and an inductor assembly coupled to the processor and integratedinto the body, the inductor assembly under processor control forgenerating a magnetic field of alternating polarity responsive to thebody being detected as adjacent to a standard magnetic card reader, themagnetic field generated in a region substantially encompassing thestandard magnetic card reader, wherein the magnetic field encodes saidselect identification data, and wherein the magnetic field is operableto be read by a magnetic read head of the standard magnetic card reader.

According to another aspect of the present disclosure, a multi-functionelectronic device comprises: a near-field communication (NFC) unit; atouch sensor array; a display; a motion rate detection array; a memory,storing a user data and a currency amount; and a processor operativelycoupled to the NFC unit, the touch sensor array, the display, the motionrate detection array, and the memory; and wherein the processorinitiates a device-to-device transaction between two devices by adetected proximity of a first device and a second device and an input ofinformation by a first user via said touch sensor array, and wherein thedevice-to-device transaction comprises an exchange of stored currencyand said user data between the first device and the second device viathe NFC unit.

According to yet another aspect of the present disclosure, a method ofperforming a transaction comprises: receiving an input signal at amulti-function electronic device from a user enabling operation of anear-field communication (NFC) unit of the device; receiving anindication of an amount of currency for a transaction; generating atsaid device a limited-duration payment number; and transmitting saidlimited-duration payment number from said device to a recipient of thetransaction.

BRIEF DESCRIPTION OF THE DRAWINGS

Embodiments of the present disclosure are illustrated by way of example,and not by way of limitation, in the figures of the accompanyingdrawings and in which like reference numerals refer to similar elements.

FIG. 1 is an illustration depicting an exemplary interaction between adevice and a standard magnetic card reader, according to an embodimentof the present disclosure.

FIGS. 2A-2B are block diagrams illustrating data flow between themagnetic coils on the device and the microprocessor on the deviceaccording to an embodiment of the present disclosure.

FIG. 2C depicts an exemplary process of selecting an account from aplurality of stored accounts according to an embodiment of the presentdisclosure.

FIG. 3 is a flowchart illustrating an exemplary process of generating amagnetic field with an alternating polarity according to an embodimentof the present disclosure.

FIGS. 4A-4B illustrate a user interacting with a touch sensor of adevice, according to an embodiment of the present disclosure.

FIG. 5 is an illustration of a device connected with a computing systemand operating according to an embodiment of the present disclosure.

FIG. 6 is an illustration of two devices performing a transactionaccording to an embodiment of the present disclosure.

FIG. 7 depicts an exemplary process according to an embodiment of thepresent disclosure.

DETAILED DESCRIPTION OF THE INVENTION

Reference will now be made in detail to the various embodiments of thepresent disclosure, examples of which are illustrated in theaccompanying drawings. While described in conjunction with theseembodiments, it will be understood that they are not intended to limitthe disclosure to these embodiments. On the contrary, the disclosure isintended to cover alternatives, modifications and equivalents, which maybe included within the spirit and scope of the disclosure as defined bythe appended claims. Furthermore, in the following detailed descriptionof the present disclosure, numerous specific details are set forth inorder to provide a thorough understanding of the present disclosure.However, it will be understood that the present disclosure may bepracticed without these specific details. In other instances, well-knownmethods, procedures, components, and circuits have not been described indetail so as not to unnecessarily obscure aspects of the presentdisclosure.

Some portions of the detailed descriptions which follow are presented interms of procedures, steps, logic blocks, processing, and other symbolicrepresentations of operations on data bits that can be performed oncomputer memory. These descriptions and representations are the meansused by those skilled in the data processing arts to most effectivelyconvey the substance of their work to others skilled in the art. Aprocedure, computer generated step, logic block, process, etc., is here,and generally, conceived to be a self-consistent sequence of steps orinstructions leading to a desired result. The steps are those requiringphysical manipulations of physical quantities. Usually, though notnecessarily, these quantities take the form of electrical or magneticsignals capable of being stored, transferred, combined, compared, andotherwise manipulated in a computer system. It has proven convenient attimes, principally for reasons of common usage, to refer to thesesignals as bits, values, elements, symbols, characters, terms, numbers,or the like.

It should be borne in mind, however, that all of these and similar termsare to be associated with the appropriate physical quantities and aremerely convenient labels applied to these quantities. Unlessspecifically stated otherwise as apparent from the followingdiscussions, it is appreciated that throughout the present claimedsubject matter, discussions utilizing terms such as “storing,”“creating,” “protecting,” “receiving,” “encrypting,” “decrypting,”“destroying,” or the like, refer to the action and processes of acomputer system or integrated circuit, or similar electronic computingdevice, including an embedded system, that manipulates and transformsdata represented as physical (electronic) quantities within the computersystem's registers and memories into other data similarly represented asphysical quantities within the computer system memories or registers orother such information storage, transmission or display devices.

Encoding Via an Alternating Polarity of a Magnetic Field

In one embodiment of the present disclosure, a smart multi-functionelectronic device comprises a dynamic magnetic region (strip)incorporating a main inductor assembly from which programmed magneticfield data symbols are dynamically generated. In one embodiment theinductor assembly may be a planar coil formed within the material thatembodies the multi-function electronic device. An advantage of using aplanar coil is that it can dynamically produce a magnetic field in sucha manner as to emulate the interaction between a traditional magneticstrip and a conventional card reader. As the magnetic strip of aconventional card is passed through a magnetic reader head, stripes ofalternating magnetic polarity embedded in the strip induce a magneticfield of alternating polarity at the reader head. The pattern formed bythe alternating polarity of the magnetic field encodes information,which when transformed by a transducer to a current signal in themagnetic reader head, provides user information for a transaction.

Embodiments of the present disclosure provide a multi-functionelectronic device able to generate a programmed magnetic field, whereindata is encoded and represented by an alternating polarity of thegenerated magnetic field. In a similar manner to a conventional plasticcard, the magnetic field produced by the planar coil is able to be readby a pickup (or “transducer”) and to thereby transmit information to themagnetic card reader. FIG. 1 illustrates a payment transaction 100performed between a multi-function electronic device 101 and aconventional magnetic reader 150. The multi-function electronic device101 generates a magnetic field of alternating polarity 120 to be read bythe conventional magnetic card reader 150, according to an embodiment ofthe present disclosure. The multi-function electronic device 101 ismoved at a rate 130 relative to a magnetic reader head 155 ofconventional magnetic card reader 150. The magnetic field 120 extendswith sufficient distance and intensity from 101 so as to be read bymagnetic head reader 155. The magnetic head reader 155 responds to themagnetic field 120 by producing a current in the conventional fashion,which is then interpreted as encoded information by the magnetic reader150. Therefore the magnetic field of alternating polarity 120 producedby the multi-function electronic device 101 has a substantiallyidentical encoding effect as a traditional magnetic strip.

A characteristic of encoding information in a conventional magnetic cardstrip is that binary information is encoded by the pattern ofalternating magnetic polarity formed by ferromagnetic stripes embeddedon the magnetic strip. As the conventional magnetic card strip has astandardized format, the encoding of information is provided at aspecified data density (bits per inch), according to which conventionalmagnetic readers are designed for interpretation of encoded data. Inorder to most ably emulate a conventional card interaction with aconventional magnetic reader the multi-function electronic device 101 ofthe present disclosure is provided with a means of determining asubstantially optimal rate for alternating the polarity of the generatedmagnetic field 120 in order to produce data at a rate which is able tobe readily received and correctly interpreted by the conventionalmagnetic reader 150. Embodiments of the present disclosure provideseveral means of determining the relative movement rate 130 between themulti-function electronic device 101 and the magnetic reader head 155.These features, as well as other characteristics of the multi-functionelectronic device of the present disclosure, can be better appreciatedby a description of the internal components and functions ofmulti-function electronic device 101.

FIGS. 2A and 2B depict exemplary embodiments of a smart multi-functionelectronic device, in a block diagram view. The components of the blockdiagram are illustrated according to functional connections, and theirlocations should not be construed as being limited to the respectivelocations as depicted in FIGS. 2A-2B. In FIG. 2A, multi-functionelectronic device 201 a is shown in a block diagram view. Multi-functionelectronic device 201 a comprises a processor 205 and a memory unit 207,the processor 205 operatively coupled to the components ofmulti-function electronic device 201 a. The memory 207 comprises aplurality of accounts 209, which may be credit card accounts, bankingaccounts, merchant accounts, online accounts, cryptocurrency accounts,and combinations thereof. A motion detection module 210 is coupled tothe processor unit 205 and to a set of motion detection units, whichcomprise a rate detection assembly 225, an optical sensor array 230, anda set of accelerometers 235. The magnetic field is generated via aplanar coil 220, which is controlled by the processor unit 205 via acoil interface 215. The rate at which the magnetic field changespolarity to encode the user data depends on the rate of relativemovement detected by the rate detector. The multi-function electronicdevice 201 a further comprises a real-time clock 240, a touch-sensorarray 245, and a display 250, each operatively coupled to the processorunit 205. A user input may be made via the touch sensor array 245, whichmay comprise a touch screen panel, a keypad, or a combination thereof.The display 250 is able to display an alphanumeric sequence, as well asgraphical icons (such as a logo for a bank, or other images). Further,an optional backup power source 255 is depicted.

In one embodiment, the processor unit 205 is connected to the planarcoil 220 and the motion detection units, via the motion detection module210. The processor unit 205 is responsible for determining theappropriate rate with which to output data from the planar coil 220,wherein output data is encoded using alternating polarity of a generatedmagnetic field. The rate of the alternating polarity of the magneticfield is generated in accordance with the detected movement speed withwhich the card is swiped through the reader, in order for the reader toreceive the encoded data at the appropriate rate. Magnetic card readers,which are designed to read conventional cards, are constructed to readdata at specified input rates that correspond with the data densitypresent in conventional magnetic card strips. The magnetic data symbolsgenerated by the planar coil 220 are produced to align with the rate atwhich data is being read by the magnetic card reader. Accordingly, it isirrelevant if the multi-function electronic device 201 a of the presentdisclosure is being swiped quickly or slowly, the planar coil 220 iscontrolled by the processor unit 205 to produce data at a substantiallyoptimized rate, where the rate of data production is dependent on therate at which the multi-function electronic device 201 a is detected tobe passing across the magnetic reader head.

FIG. 2B depicts a multi-function electronic device 201 b according to anembodiment of the present disclosure. Device 201 b comprises a processor205 and a memory unit 207, the processor 205 operatively coupled to thecomponents of multi-function electronic device 201 b. The memory 207comprises a plurality of accounts 209, which may be credit cardaccounts, banking accounts, merchant accounts, online accounts,cryptocurrency accounts, and combinations thereof. A motion detectionmodule 210 is coupled to the processor unit 205 and to a set of motiondetection units, which comprise a rate detection assembly 225, anoptical sensor array 230, and a set of accelerometers 235. Additionally,a galvanic sensor 275 is coupled to processor unit 205. The magneticfield is generated via a planar coil 220, which is controlled by theprocessor unit 205 via a coil interface 215. The rate at which themagnetic field changes polarity to encode the user data depends on therate of relative movement detected by the rate detector. Themulti-function electronic device 201 b further comprises a real-timeclock 240, a touch-sensor array 245, and a display 250, each operativelycoupled to the processor unit 205. A user input may be made via thetouch sensor array 245, which may comprise a touch screen panel, akeypad, or a combination thereof. The display 250 is able to display analphanumeric sequence, as well as graphical icons (such as a logo for abank, or other images). Further, an optional backup power source 255 isdepicted. Multi-function electronic device 201 b further comprises anear-field communication (NFC) unit 260, as well as a radio frequencyidentification (RFID) unit 265, both of which are operatively coupled tothe processor unit 205. In one embodiment the NFC and RFID may share theplanar coil for use as a radio frequency antenna, through the coilinterface 215. In one embodiment one or both the NFC and the RFID mayhave antennae dedicated to that individual sub-system. A universalserial bus (USB) connector 270 is coupled to the processor unit 205. Thefunctionality of the components with regard to exemplary uses ofmulti-function electronic devices 201 a and 201 b is described ingreater detail in the following description.

A further aspect of the present disclosure provides a singlemulti-function electronic device that can be used for multiple banks orfinancial institutions. For example, instead of carrying a separatepayment card for each account of a variety of payment card companies, acustomer need only to carry a single device according to embodiments ofthe present disclosure. The capability of the multi-function electronicdevice to generate a multitude of payment numbers provides the abilityof the multi-function electronic device to be associated with multipleaccounts. Furthermore, inputs at the touch sensor array on themulti-function electronic device can be used to select the appropriatebank or credit provider account stored in the memory unit of themulti-function electronic device.

FIG. 2C depicts a process of selecting an account from a plurality ofstored accounts in order to perform a transaction with the selectedaccount, according to an embodiment of the present disclosure. Theprocess 280 begins at step 282, where a plurality of accounts stored bythe multi-function electronic device memory is displayed. The pluralityof accounts 209 are stored by memory 207, and are displayed usingdisplay 250. A user indicates an account selected from the plurality ofaccounts at step 284. The selection is able to be made by keypad ortouch sensor array 245, and an indication of the selected account can bedisplayed via display 250. At step 286 the multi-function electronicdevice is configured according to account information associated withthe selected account, which may include an account number, an expirationdate, and other user information associated with the account (e.g. ausername, PIN, password, email address, etc.). At step 288 the planarcoil of the multi-function electronic device is encoded with alimited-duration payment number that is associated with the selectedaccount. The limited-duration payment number is able to be generatedaccording to the selected account, a timestamp, a transaction amount, anindicated merchant, user key or secrets, on-card unique hardwaresecrets, payment authority key or secrets, user input from the cardinterface, and other information associated with the transaction.

Movement Rate Feedback

The relative movement rate of multi-function electronic device 201 a isdetected by one or more of the set of motion detection units, comprisingthe rate detection assembly 225, the optical sensor array 230, and theset of accelerometers 235. Each of the motion detection units detectsthe motion of the device 201 a in a distinct manner. The rate detectionassembly 225, which is positioned alongside (but independent of) theplanar coil 220, is able to detect the location of a magnetic headreader as the rate detection assembly 220 is being passed through thecard reader. The reader module of a conventional card reader comprises ametal head having a small gap at the tip of the head. A pickup armatureresides in this gap, such that as the metal head passes over a cardstrip, an electric field is induced in the head reader pickup circuit.In one embodiment the rate detection assembly 225 is constructed of anarray of auxiliary inductor coils and magnetic pickup coils. As themetal head of the card reader assembly passes over the arrangement ofauxiliary inductor coils and magnetic pickup coils of the rate detectionassembly 225, a disturbance in the magnetic field flowing between thetwo is induced, generating a change in current and producing a detectedmovement signal. The change in current is detected by the motiondetection module 210, and is used to determine the rate of motion of thecard reader head passing across the surface of the multi-functionelectronic device 201 a (and therefore along the planar coil 220).

The optical sensor array 230 is also operable to detect a movement rateof the multi-function electronic device 201 a with respect to aconventional magnetic card reader. The optical sensor array 230 isdisposed nearby the planar coil 220, in order to accurately detect amovement rate in the region of the planar coil 220. In an embodiment,the optical sensor array 230 is a thin strip parallel to, and extendingalong, the length of the planar coil 220. The optical sensor array 230determines a location of a minimum of received light, which correspondsto the region of a surface in nearest proximity to the optical sensorarray 230. The magnetic reader head of a conventional magnetic cardreader extends furthest from the surface of the card reader, andtherefore the detected minimum in received light at the optical sensorarray 230 corresponds with the location of the reader head. By trackingover time the position of this minimum received light along the opticalsensor array, a detected movement rate may be found.

The set of accelerometers 235 are also operable to detect a movementrate of the multi-function electronic device 201 a. The set ofaccelerometers 235 are positioned in the multi-function electronicdevice 201 a in order to effectively measure the position andacceleration of the multi-function electronic device 201 a. In anembodiment, the set of accelerometers comprises groups ofaccelerometers, each group having one or more accelerometers disposed atorthogonal planes to each other, and each group capable of generatingsignals that allow for determination of the orientation, motion andacceleration of the multi-function electronic device 201 a.

The detected movement signal is received by the motion detection module210. The detected movement signal is generated by any one of the set ofmotion detection units, or any combination of motion detection units ofthe set. For example, the movement detection signal is able to begenerated by the combination of the rate detection assembly 225 and theoptical sensor array 230. In an embodiment, the movement detectionmodule 210 is able to determine the movement rate of the multi-functionelectronic device 201 a from the detected movement signals, andtransmits the determined movement rate, and orientation to the processorunit 205. In an embodiment, the motion detection module 210 sends thedetected movement signal to the processor unit 205, and the processorunit 205 determines the relative movement rate.

In one embodiment, the generation of the magnetic field by the planarcoil 220 at a specified rate of alternating polarity is accomplishedaccording to the following description. One or more of the motiondetection units in the set of motion detection units (rate detectionassembly 225, optical sensor array 230, and set of accelerometers 235)detect a movement rate of the multi-function electronic device 201 awith respect to a magnetic card reader, and signal the motion detectionmodule 210. The movement rate is provided to the processor unit 205,which determines the appropriate rate for alternating the polarity ofthe magnetic field generated by the planar coil 220. The processor unit205 outputs instructions or data to the coil interface 215 at thedetermined rate, which in an embodiment is a digital-to-analog converter(a DAC) and acts to translate the signal from digital to analog in orderto drive the planar coil 220 and produce the magnetic field. Theinstructions from the processor unit 205 are comprise binary code, whichare output through a shift register to the coil interface 215. The shiftregister outputs data at a rate proportional to the determined movementrate of the multi-function electronic device 201 a—thus, a higherdetermined multi-function electronic device 201 a movement rate has acorresponding higher output rate at the shift register, leading to ahigher rate of alternating polarity at the generated magnetic field(i.e., encoded data symbols output more quickly). Conversely, a lowermovement rate of multi-function electronic device 201 a leads theprocessor unit 205 to control the shift register to output data at alower rate, and consequently the rate of alternating polarity in thegenerated magnetic field is lower.

FIG. 3 illustrates an exemplary process 300 for determining the rate toalternate the polarity of the generated magnetic field of themulti-function electronic device, according to an embodiment of thepresent disclosure. At step 301 the process determines if a standardmagnetic card reader is detected to be in proximity with themulti-function electronic device. If NO, the step repeats. If YES, theprocess moves to step 303. At step 303 a detection of a movement rate atwhich the body of the multi-function electronic device is movingrelative to the standard magnetic card reader is made. The processcontinues at step 305, wherein a magnetic field is generated by aninductor assembly comprised by the multi-function electronic device, themagnetic field having a target rate of alternating polarity that isbased on the detected movement rate from step 303. The process thenrepeats at step 301, determining if a standard magnetic card reader is(or remains) in proximity to the multi-function electronic device. Inthis manner, while a standard magnetic card reader is detected to be inproximity to the multi-function electronic device, the movement rate ofthe multi-function electronic device is determined and the polarity andorientation of the generated magnetic field is alternated at theappropriate rate, to recreate the data as described above, at thecorrect rate, in order to clock out the data to be conveyed to themagnetic strip reader, at a rate matching the action of an ordinarymagnetic strip card through same the magnetic card reader.

Security

Security is an area of concern for payment card holders, as the smallform factor makes theft quite easy, and additionally there are many waysfor a malicious third-party to record the account number of a paymentcard in order to later make fraudulent transactions on the account.Embodiments of the present disclosure address security concerns of apayment card owner on several fronts.

In one aspect, security of the multi-function electronic device isenhanced by providing a means of locking the multi-function electronicdevice in order to prevent use, until such time that a valid user inputis entered. Embodiments of the present disclosure provide amulti-function electronic device having a region for receiving humaninput, e.g., touch sensors which are able to be formed by contacts thata user can press (e.g., the touch sensor array 245 of FIGS. 2A-2B).FIGS. 4A-4B illustrate a user interacting with a multi-functionelectronic device 401 via a keypad or touch sensor array 445. In FIG.4A, the multi-function electronic device 401 is in a locked state. Adisplay 450 is able to display a message to the user, for instance, themessage “device locked” or “enter password,” or question prompts whichguide the user to respond with answers through the key-pad or the touchsensor, to certain preset questions, that confirm personal knowledgeknown only to the associated user. The touch sensor array 445 enablesuser interaction with the multi-function electronic device 401. Anexemplary use of the touch sensor array 445 is an input of a currencyamount to be used in a transaction. The touch sensor array 445 is ableto include buttons, or a touch-sensitive pad, or a combination of thetwo. Other embodiments of the touch sensor array 445 allowing a user toinput data to the multi-function electronic device 401 are consistentwith the spirit and scope of the present disclosure.

In order to unlock the multi-function electronic device 401 and enable atransaction or other usage, the user inputs data via the touch sensorarray 445. FIG. 4B illustrates the user inputting a password via agesture 470, which operates to unlock the multi-function electronicdevice 401. The display 450 b is able to display a message indicatingthe multi-function electronic device 401 is unlocked and ready for use,for instance, display 450 b may display the message “unlocked,” or itmay display an account number associated with the multi-functionelectronic device 401.

Embodiments of the present disclosure provide additional functionalityfor the touch sensor array 445. For example, there may be touch contactterminals that a user can press to wake up the multi-function electronicdevice 401, to cause the battery to supply power, or to place themulti-function electronic device 401 in a power reduction mode when itis not being used. In an embodiment, if any number other than thecorrect password is entered multiple times, or if there is an attemptedusage of the multi-function electronic device 401 without entering in apassword, an automatic phone call may be triggered to the appropriatefraud protection authorities.

In one embodiment of the present disclosure, the display 450 is athin-film liquid crystal display (“LCD”). The display 450 is able tohave multiple uses. In one embodiment, the display 450 can be used tocue the user for a security question upon input of an improper password.Or if fraud protection services need to contact a customer, they canverify the customer's identity by transmitting a security question tothe display 450 of user's multi-function electronic device 401, to whichthe user would need to respond correctly using the input buttons oftouch sensor 445 on the card.

Limited-Duration Payment Number

A further security feature of the multi-function electronic deviceprovided in the present disclosure is the capability of producing alimited-duration payment number for performing transactions usingaccounts of the card. The multi-function electronic device comprises areal-time clock that is able to produce a cryptographically protectedtimestamp for each interaction. The power source is able to activate theprocessor unit such that a unique number may be generated by themulti-function electronic device and verified by the payment authorityaccording to the timestamp and the transmitted user information. Thelimited-duration payment number is able to be produced at the time themulti-function electronic device is performing a transaction, and isable to be generated according to the user's private information, a bankinformation, information regarding the facility performing thetransaction, and the time of day. The limited-duration payment number isable to be limited to only one transaction, a finite number oftransactions, or may be limited to a specified period of time—e.g., 2minutes, 10 minutes, 3 hours—after which time that particularlimited-duration number would become invalid. As detailed above, if anexpired limited-duration payment number is attempted to be used for atransaction, the transaction is denied and an automatic notification isable to be made to a payment authority in order to notify the user andto prevent transactions on the account. The transaction count is able tobe determined through the action of passing the card through magneticreader, and the process of transmitting the payment number to the cardreader.

In one embodiment, the number on the front of the card is able to be afull or partial number. In an embodiment, the number displayed on themulti-function electronic device is a static number, but the numbertransmitted during a transaction is a limited-duration payment number asdescribed above. The number displayed on the multi-function electronicdevice may not necessarily be a static number. For example, the firstfour and last four digits of the payment number are able to be fixed,while the remaining eight digits can be dynamically generated. As thedevice is read by the machine, part or all of the number may bedynamically produced at the time the device is read. As described above,the dynamic part of the limited-duration payment number generated may bebased on the user's private information, the user's bank information,the time of day or the facility that is reading the card. Further, theexpiration date of the multi-function electronic device can also bedynamically generated.

Effectively, embodiments of the present disclosure provide amulti-function electronic device that has no fixed number, asillustrated in FIG. 11 , and therefore the account cannot becompromised. Only the number generated at the instant of themulti-function electronic device transaction matters. Accordingly,unauthorized use of the multi-function electronic device is highlyunlikely, because a transaction cannot be conducted with an expiredlimited-duration payment number, or only the static portion of thepayment number. In one embodiment of the present disclosure, sufficientdynamically generated numbers are provided for on the multi-functionelectronic device such that a unique payment number can be generated foreach transaction. In this embodiment, the multi-function electronicdevice of the present disclosure effectively acts as a uniqueper-transaction payment device.

With reference to FIG. 2A, 2B, in one embodiment, the process stepsenabling a card transaction are as follows. A multi-function electronicdevice (e.g., multi-function electronic device 201 b) is connected to acomputer system (e.g. computer system 590, FIG. 5 ), via any of theconnection means available to the multi-function electronic device (USB270, NFC 260, and RFID 265). User data and other essential information,such as account information, are downloaded to the multi-functionelectronic device. For example, for an account designed for onlinetransactions, user account information will likely include an accountemail and an account password. The account may be for example a bankaccount, a credit account, a merchant account, an online transactionaccount, or a cryptocurrency. In one embodiment a currency amount isalso downloaded, which is made accessible to the multi-functionelectronic device 201 b for transactions. In an alternative embodiment,rather than a currency amount being downloaded to the multi-functionelectronic device 201 b, the user account information (e.g., usernameand password) is stored such that a subsequent authorized multi-functionelectronic device 201 b transaction is automatically pre-authorized todeduct (or credit) the entered transaction amount at a stored account.In an embodiment, a user uses the touch sensor array 245 of themulti-function electronic device 201 b in order to input the userinformation, including the amount of currency to be stored. Theinformation entered by the user is able to include an account source ofa transaction (e.g., bank account, credit account, merchant account,ATM, online payment service, or a cryptocurrency), as well as a type oftransaction to be made (e.g., as a debit card, as a credit card, or as auser account). In another embodiment, the information is entered usingthe computing system to which the multi-function electronic device 201 bis connected.

Transactions may be authenticated on the specified account by entry ofthe username and password for the account during the transaction, usingthe touch sensor array 245. In an embodiment, a password for an accountis represented by a user input (such as a gesture, a swipe, and/or anunlock keycode) which is entered on multi-function electronic device 201b during a transaction for account authentication. According to anembodiment of the present disclosure, a user that has “primed” themulti-function electronic device 201 b for a transaction has alreadyperformed a security authentication on the card, and therefore asubsequent card transaction is able to be pre-authorized to perform thetransaction without further user authentication steps. The primingaction can be a tap of the multi-function electronic device 201 bdetected by accelerometers 235, or a gesture, swipe, or a key inputreceived by touch sensor array 245.

A transaction is able to be communicated using the planar coil 220. Inone embodiment, when the transaction is a payment transaction, alimited-duration payment number is generated. A user inputs an amountfor the transaction using the touch sensor array 245, and thelimited-duration payment number is generated to correspond with theentered amount. The binary data corresponding to this limited-durationpayment number is sent from the processor unit 205 to the coil interface215, where it is converted to an analog signal in order to drive theplanar coil 220 to generate a magnetic field having an alternatingpolarity corresponding to the encoded data of the limited-durationpayment number.

Online Transactions

FIG. 5 displays the multi-function electronic device 501 in connectionwith a computing device 590. In one embodiment, the multi-functionelectronic device 501 is able to be used to make online purchases. Inone embodiment, the multi-function electronic device 501 is equippedwith a means 570 for communicating with the USB port on a computer orother device in order to make online purchases. In one embodiment themulti-function electronic device 501 may have an area cut out, such thatcontact terminals corresponding to a USB cable connector are containedwithin, enabling connection of a USB cable (e.g., a micro-USBconnection). When performing online transactions, the multi-functionelectronic device 501 can uniquely generate a limited-duration paymentnumber (as described above) for online purchases. The multi-functionelectronic device 501 receives a user input indicating that atransaction is imminent, and an authorization. The user input is able tocomprise a gesture, a swipe, a key input sequence, and combinationsthereof. The limited-duration payment number is able to be displayed onthe front display of the multi-function electronic device 501. In oneembodiment, the multi-function electronic device 501 is able to use RFID265 or near field communication NFC 260 technology in order to connectto a personal computer 590. This enables a per-transaction, limited-usepayment number, enhancing the security of the payment account bysubstantially negating the possibility of a theft of the payment numberused to perform the transaction leading to account compromise. See also,for example, FIG. 10 .

According to an embodiment, the transaction is able to includeinformation regarding a user account, such as an email address of theuser, and upon reconnection of multi-function electronic device 201 b toa computer system (for instance, computer system 590), the transactioninformation stored on multi-function electronic device 201 b could be“replayed” by the computer system in order to finalize the transaction.

In one embodiment, a means of limiting an available credit amount areprovided. According to the download process described above, themulti-function electronic device is able to have a total creditavailable. The multi-function electronic device is able to reference thetotal credit available in subsequent transactions, and will providelimited-duration payment numbers corresponding to amounts up to, but notexceeding, the remaining credit available to the multi-functionelectronic device. An attempt to perform a transaction having an amountexceeding the remaining credit available will not result in a validlimited-duration payment number, and therefore an authenticatedtransaction cannot proceed. In general, the multi-function electronicdevice will only successfully generate a limited-duration payment numberif the proper conditions for a transaction are determined to be present.The proper conditions for a transaction comprise a correctidentification having been made by the user (via a gesture, swipe,and/or key input) and an amount for the transaction indicated to be lessthan the total credit available to the account indicated for thetransaction.

Device-to-Device Transactions

In addition to transactions performed using conventional magnetic cardreaders (such as at point-of-sale locations, banks, and automated tellermachines (ATMs)) and via cable connection with a computing device,transactions performed wirelessly between a device and a device (e.g.,card-to-card, card-to-computer device having a reader dongle,card-to-ATM) are provided according to embodiments of the presentdisclosure. See, for example, FIGS. 8 and 10 . For simplicity, thefollowing describes a device-to-device transaction, but it will beunderstood that card-to-device transactions are similarly provided.

FIG. 6 illustrates a device-to-device transaction according to oneembodiment. A first multi-function electronic device 601 a comprises adisplay 650 a, and is in contact with a second multi-function electronicdevice 601 b. A contact interaction between the devices is indicated byinteraction 680. In one embodiment, the contact interaction is a tappingof a device 601 a against another device 601 b. In another embodiment,an optical sensor array at one or both of the devices detectsinteraction 680. In another embodiment, interaction 680 indicates aswipe of a device 601 a across another device 601 b. In one embodiment auser input through the key-pad initiates and enables a transaction fromfirst device to second device. In one embodiment the presence of seconddevice in preparation for device-to-device transaction is confirmedthrough “polling”, the process of which involves transmission of databetween devices, and confirmed receipt of transmitted data by responsereceived from second device received at first device, includinginformation confirming receipt of the information, by second device.

The planar coil comprised by each of multi-function electronic device601 a and multi-function electronic device 601 b is able to be a meansof transferring information for a transaction, e.g., such as an antenna.Once either, or both, of multi-function electronic device 601 a andmulti-function electronic device 601 b detect interaction 680, atransaction is able to be completed via generation of a magnetic fieldat one card and reception of the magnetic field (i.e., reading) at theother card. In this manner, the device (e.g., multi-function electronicdevice 601 a) receiving the transaction information operates its planarcoil in an antenna mode. This enables multi-function electronic device601 a and multi-function electronic device 601 b to authenticallyperform a transaction, and to transfer a currency between multi-functionelectronic device 601 a and multi-function electronic device 601 b. Asdescribed above, in an embodiment the transaction is able to use alimited-duration payment number to encode the transaction.

In an embodiment, a set of accelerometers is used to detect thebeginning of the transaction, for instance, a transaction performed by aswipe of multi-function electronic device 601 a across multi-functionelectronic device 601 b. Further, the set of accelerometers can detect a“priming” action for a multi-function electronic device, i.e., anindication for a multi-function electronic device that a transaction isimminent. The priming action can be a tap of the multi-functionelectronic device 601 a, or tapping the multi-function electronic device601 a against the multi-function electronic device 601 b. In oneembodiment, a touch sensor array is able to be used for the primingaction.

In an embodiment of a device-to-device transaction, one device (e.g. 601a, the device of the user having a currency debit) generates thelimited-duration payment number, which is transmitted via the device'splanar coil. The multi-function electronic device of the recipient(e.g., 601 b, the card of the user receiving a currency credit) receivesthe encoded data via the planar coil, acting as an antenna, and the coilinterface is able to convert the received signal into a digital signalunderstood by the processor to be the limited-duration payment number,identifying both the correct account and the amount of the transaction.

In one embodiment, the multi-function electronic device 201 b storescryptocurrency information in processor unit 205. The cryptocurrencyinformation stored is able to include a plurality of cryptocurrencyaddresses, a plurality of private keys, and a plurality of public keys.The multi-function electronic device 201 b is able to perform atransaction, as described above, using a cryptocurrency as the specifiedaccount. In one embodiment, the multi-function electronic device 201 bis able to hash a portion of the transaction, using the processor unit205 and the real-time clock 240 along with user information pertinent tothe cryptocurrency account and the transaction. A subsequent connectionof the device 201 b to a computing device provides a means of connectingto the cryptocurrency servers and finalizing the transaction. Further,the multi-function electronic device 201 b is able to sign acryptocurrency transaction by, for instance, receiving a prompt at thedisplay 250 to input a dynamic PIN specific to the transaction, which isable to be entered by touch sensor array 245.

In a device-to-device cryptocurrency exchange, a record of thetransaction can be made according to the following. A first device (e.g.601 a) making a deduction with an amount indicated via touch sensorarray 245 is able to generate a record of the transaction and store therecord in the device memory, while a second device (e.g. 601 b)receiving the cryptocurrency is able to generate a confirmation of thereceived transaction amount. In one embodiment, the amount indicated isprovided by the receiving device 601 b. The hashed record of thetransaction contains the unique information of each user, along with thetransaction amount. The success or failure of the transaction is able tobe displayed on the respective displays of devices 601 a and 601 b.

Account Theft and Unintended Use Prevention

A security concern for conventional credit cards utilizing wirelesscommunication means is the ability of a thief to access and/or copy userinformation through un-detected interaction with the wirelesscommunication means. Sensitive and confidential information can begleaned via, for example, “listening-in” on an RFID interaction betweena credit card and a contactless reader, recording the characteristics ofthe interaction, and replicating certain characteristics to fake anauthorized transaction. While to a great extent security concerns areaddressed by the usage of limited-duration payment numbers and othersecurity features provided for by the device of the present disclosureand previously described, a further security feature regarding thewireless communication means of the multi-function electronic device isdescribed herein.

In one embodiment, wireless communication means of the multi-functionelectronic device 201 b are in a powered-down, or disabled, state priorto receiving an authenticated activation signal from a user. Uponreceiving the activation signal, the communication means (e.g., NFC 260,RFID 265, and planar coil 220) are activated, enabling themulti-function electronic device 201 b to conduct a transaction. Theactivation signal can originate from one (or a combination) of the setof motion detection units (rate detection 225, optical sensor array 230,and accelerometers 235), the touch sensor array 245, and the galvanicsensor 275. The galvanic sensor 275 is operable to detect a contact ofhuman skin, via a current produced at the sensor 275 upon such contact.See also, for example, FIG. 8 . In an embodiment the galvanic sensor 275is comprised of metallic contacts disposed on opposite sides of, andisolated by, the body of multi-function electronic device 201 b. In oneembodiment, the current produced by user contact with the galvanicsensor 275 contacts is sufficient to provide small amounts of energy inorder to power components of the card. For example, energy produced isable to power the processor unit 205 and the RFID 265. In one embodimentthe galvanic sensor 275 further comprises two conducting surfacesseparated by a junction, and the galvanic sensor 275 is configured as athermoelectric generator (e.g., via the Peltier effect, the Seebeckeffect, or a combination). For example, heat applied at one surface ofthe multi-function electronic device 201 b may lead to differentialheating between the opposing, separated conducting surfaces of thegalvanic sensor 275, generating an electric current and powering asubset of, or all of, the components of multi-function electronic device201 b (e.g., the processor unit 205, the NFC 260, and the RFID 265).

In an embodiment, the communication means are activated only so long asthe activation signal continues to be detected. In another embodiment,the communication means are activated for a specified amount of timefollowing detection of the activation signal. For example, if using themulti-function electronic device 201 b in an ATM (or other device)preventing continuous human contact, the activation signal is able to bea swipe, gesture, or key input sequence entered via the touch sensorarray 245, which activates the device for a specified duration (forinstance, one minute). In an embodiment the detection of motion throughaccelerometer input indicates activation by a valid user. In oneembodiment the specific motion detected through accelerometer inputcorresponding with a specific user action, such as a “flick”, “swipe”,“spin”, “wave”, “tap,” may be used to initiate activation, wherein themotion is not normally generated at idle and during periods ofinactivity. For example the motion not being generated accidentallywhile the device is stored in a user's wallet, carried while the user isactively moving, or is being handed from user to a clerk at a point oftransaction. In one embodiment the specific motion, or sequence ofmotions, may be associated with a user, and stored on the device memory,such that performing the correct sequence when prompted can confirm thepossession of the device by the known owner, thus initiating activationand enabling usage.

FIG. 7 depicts a process of selectively enabling the communicationcapability of the multi-function electronic device according to anembodiment of the present disclosure. The process 700 begins at step701, where an input signal is received at the multi-function electronicdevice from a user. The input signal is able to be generated by any one,or combination, of a plurality of input means, where the input meanscomprise: a swipe gesture received at a touch sensor array; a key presssequence; an accelerometer sensor indication of multi-functionelectronic device motion; and a galvanic sensor indication that thedevice is in a user grasp. The input received from the user enablesoperation of a near-field communication (NFC) unit of the multi-functionelectronic device. In one embodiment, the NFC unit is disabled prior toreceiving the input signal. In one embodiment, an RFID communicationunit is disabled prior to receiving the input signal, and is activatedby the input signal. In one embodiment, the planar coil is disabledprior to receiving the input signal, and is activated by the inputsignal.

The multi-function electronic device, following enablement of the NFCunit, receives an indication of an amount of currency for a transactionat step 703. At step 705, the multi-function electronic device generatesa limited-duration payment number, which at step 707 is transmitted to arecipient of the transaction. In one embodiment, the limited-durationpayment number has a limited recurrence, and is limited in scope of useto a predetermined number of authorized transactions.

In the foregoing description of process 700, the ordering of the processsteps is exemplary and should not be construed as limiting. Alternativeordering of the process steps is consistent with the present disclosure,as conceived by one skilled in the relevant art.

In one embodiment of the present invention, a credit card comprises adynamic magnetic strip incorporating a main inductor assembly from whichmagnetic field data symbols are dynamically generated. In one embodimentthe inductor assembly may be a planar coil formed within the plasticthat the credit card is composed with. The advantage of using a planarcoil is that it can produce the same magnetic field interaction that atraditional magnetic strip on a conventional credit card can producewhen it is passed through a reader. Similar to a traditional plasticcredit card, the planar coil can also produce a magnetic field that canbe read by a pickup (or “transducer”). The pickup produces electriccurrent in the coil that, in turn, produces a magnetic field that isread by the pickup. Accordingly, the planar coil can be read in the sameway as the magnetic strip on a traditional plastic credit card. Themagnetic field produced by the planar coil would behave identically to atraditional magnetic strip.

In one embodiment, alongside the main planar coil, auxiliary ratedetection assembly independent of the main inductor assembly would beprovided to assist with the alignment of the production of data from theloop as it is being passed over the head of the credit card reader. Thereader module of a traditional credit card reader comprises a metal headwith a small gap on the tip of the head. This gap is where the pickuparmature resides, so that when the metal head passes over the creditcard strip, an electric field is induced in the head reader pickupcircuit. In one embodiment the auxiliary rate detection assembly isconstructed of an array of auxiliary inductor coils and magnetic pickupcoils, alongside the main coil. As the metal head of the card readerassembly passes over the arrangement of auxiliary coils and pickupcircuits, a disturbance in the magnetic field flowing between the twogenerates a electrical current change that is detected by a ratedetection circuit so as to detect the rate of motion of the card readerhead passing across the surface of the card and therefore along the maininduction assembly. The purpose of this is to allow the determination ofthe rate or production of magnetic data symbols in the main inductorassembly to align with the rate at which data is being read by thereader, according to the data density of standard card magnetic strips.Accordingly, it is irrelevant if the credit card of the presentinvention is being swiped fast or slow, the main inductor assemblyproduces data at just the right rate depending on the rate at which thecard is detected it is being passed over the reader's head.

In one embodiment, a microprocessor is connected to the main coil andthe alignment pickups. The microprocessor is responsible for producingthe data from the coil at the appropriate rate in accordance with thespeed with which the card is swiped through the reader. As shown in FIG.1 , the auxiliary coil detects the rate at which the credit card isbeing swiped. The microprocessor then uses this information to producethe data from the main planar coil at the appropriate rate for thecredit card reader.

In addition, the credit card of the present invention comprises a realtime clock that can produce a cryptographically worthy timestamp foreach interaction and a battery back up that can be used to power up themicroprocessor. Further, the card can comprise additional human inputs,e.g., touch sensors which can be formed by contacts that a user canpress. For example, there can be contacts that a user can press to wakeup the card, to cause the battery to supply power, or to put the card tosleep when it is not being used. There can also be additional inputs tokey in customer specific information. For example, there can be inputsto key in a password or any other kind of unique identifier. If anyother number besides the password is entered multiple times, or if thereis attempted usage of the card without entering in a password, anautomatic phone call may be triggered to the appropriate fraudprotection authorities.

In one embodiment, the number on the front of the card can be a full orpartial number. The number may not have to necessarily be a staticnumber. For example, the first four and last four digits of the cardnumber can be fixed while the remaining eight can be dynamicallygenerated. As the credit card is read by the machine, part or all of thenumber may be dynamically produced at the time the card is read. Thedynamic part of the number generated may be based on the user's privateinformation, the user's bank information, the time of day or thefacility that is reading the card. Further, the expiration date of thecard can also be dynamically generated. Effectively, a credit card canbe created that has no fixed number and therefore cannot be stolen. Onlythe number generated at the instant the card is being used matters.Accordingly, unauthorized use of the card is nearly impossible becauseno transaction can be conducted with only the partial static part of thepayment number. In one embodiment of the present invention, enoughdynamically generated numbers are provided for on the credit card suchthat a unique payment number can be generated for each transaction. Inthis embodiment, the credit card of the present invention effectivelyacts as a unique per transaction credit card.

In embodiments of the present invention comprising dynamically createdpayment numbers, a single credit card can be used for multiple banks.For example, instead of carrying a separate credit card for all thedifferent credit card companies, a customer would only need to carry asingle card and one of the inputs on the front of the card can be usedto select the appropriate bank or credit provider.

In one embodiment of the present invention, a thin film liquid crystaldisplay (“LCD”) can be fitted on the card so the credit card can have adisplay screen. The display can have multiple uses. In one embodiment,the display can be used to ask the user a security question if animproper password is entered. Or if the fraud protection services needto contact a customer, they can verify the customer's identity bytransmitting a security question to the user's credit card screen towhich the user would then need to respond correctly using the inputbuttons on the card.

In one embodiment, the credit card of the present invention could alsobe used to make online purchases. In this embodiment, the card could useRFID or near field technology so that it can connect to a personalcomputer and be used to uniquely generate a payment number for onlinepurchases. The number could also, in one embodiment, be displayed on thefront LCD of the card. In one embodiment, the card may also be equippedwith a means for communicating with the USB port on the computer inconnection with making the online purchases.

TABLE 1 1. An apparatus for conducting credit transactions comprising: adevice with the similar dimensions and thickness to a standard creditcard an inductor assembly integrated into said device capable ofgenerating a programmed magnetic field at a location on the device whereit will come into proximity to a standard credit card magnetic-stripreader the inductor assembly being operable to be read by a magneticpickup of an electronic credit card reader; at least one auxiliary ratedetection units adjacent to said inductor assembly, wherein said atleast one auxiliary detection unit is operable to detect a rate at whichsaid device, including said inductor assembly, is passed through saidelectronic credit card reader; and a microprocessor operatively coupledto said inductor assembly and said at least one detection unit, whereinsaid microprocessor is operable to simulate magnetic-strip data fieldsusing the inductor assembly, at a rate determined from said auxiliarydetection units. 2. A method of Claim 1, wherein the inductor assemblyis a planar coil which is a looped inductor with dimension roughly equalto, and along the axis of, the standard credit-card magnetic strip 3. Amethod of Claim 1, wherein said detection assembly consists of aplurality of motion rate detection units, which may comprise inductorcoils and companion magnetic-field pickup coils, each of which is ableto detect the proximity of metallic objects, such as magnetic-stripreader heads, passing through the magnetic field created by saidinductor and detected by said pickup coil. 4. A method of Claim 1,wherein said device may incorporate a plurality of touch sensorsarranged along the surface of said device which may; allow user input ofinformation, allow introducing a transaction specific identifier, toconfirm/deny transaction information, to operate in sequence, or with agesture across said sensor for the purpose lock/unlock or control accessfor transactions 5. A method of Claim 4, wherein said device contains areal-time clock or counter unit which generates a sequential parameterwhen the card is read by said credit card reader, and which along withcertain user information, transaction identifiers, user secrets, paymentauthority secrets is combined to generate a limited-use payment number,which has a limited recurrence, is limited in scope of use to apredetermined number of authorized transactions 6. A method of Claim 5,wherein the time, sequence, user, payment authority and otherinformation is similarly combined by credit card processing facility togenerate a payment number for comparison to the number transmitted bythe credit card reader, for the purposes of authenticating said numberis from a recognized card used in a user-authorized transaction 7. Amethod of Claim 1, wherein said device incorporates a display allowingpayment number, time, passcodes, sequence codes, amounts and othercredit card transaction information to be displayed for user, merchant,bank or credit card authority 8. An Apparatus for conducting credittransactions comprising, wherein the edge of said device contains aconnector for connection to standard computing devices such as a USBinterface.

The foregoing description, for purpose of explanation, has beendescribed with reference to specific embodiments. However, theillustrative discussions above are not intended to be exhaustive or tolimit the invention to the precise forms disclosed. Many modificationsand variations are possible in view of the above teachings. Theembodiments were chosen and described in order to best explain theprinciples of the invention and its practical applications, to therebyenable others skilled in the art to best utilize the invention andvarious embodiments with various modifications as may be suited to theparticular use contemplated.

Embodiments according to the invention are thus described. While thepresent disclosure has been described in particular embodiments, itshould be appreciated that the invention should not be construed aslimited by such embodiments, but rather construed according to the belowclaims.

What is claimed is:
 1. A method of generating and using limited-usepayment information for performing a payment transaction, the methodcomprising: receiving an input at an electronic device, wherein theinput comprises a priming operation, and, wherein the electronic devicecomprises: a processor; a touch-screen display coupled to the processor;and a near field communications (NFC) interface coupled to theprocessor; responsive to said priming operation, readying said device toperform a payment transaction by an identified user; receiving a paymentrequest for the payment transaction at said electronic device;displaying, on the touch-screen display, information reflecting thepayment request, and an image representing a selected issued paymentaccount; dynamically generating, by the processor, limited-use paymentinformation; wherein said limited-use payment information is dynamicallygenerated based on a per-transaction sequential parameter originatingfrom the electronic device; using said limited-use payment informationin connection with the payment transaction in place of issued paymentinformation associated with said selected issued payment account;transmitting said limited-use payment information from said electronicdevice via said NFC interface for receipt by an NFC recipient;responsive to the transmitting the limited-use payment information,receiving via the NFC interface information reflecting a status of saidpayment transaction; and displaying the status of said paymenttransaction via said touch-screen display.
 2. The method of claim 1,wherein the limited-use payment information comprises a cryptogramnumber.
 3. The method of claim 2, further comprising: prior to thepriming operation, transmitting the issued payment information forreceipt by a payment processing authority; and, in response to saidtransmitting issued payment information, receiving a static deviceaccount information that is unique to the electronic device.
 4. Themethod of claim 3 further comprising: combining said limited-use paymentinformation and said static device account information, to reduce acombined payment information; transmitting said combined paymentinformation, in place of the issued payment account information, viasaid NFC for receipt by an NFC recipient; and receiving, via the NFCinterface, and in response to transmitting said combined paymentinformation, transaction processing information reflecting a status ofsaid payment transaction.
 5. The method of claim 3, wherein thedynamically generating Lather comprises dynamically generating thelimited-use payment information based on payment processing authoritysecret information.
 6. The method of claim 5, wherein the limited-usepayment information is based on at least one secret information sharedby both the electronic device and the payment processing authority. 7.The method of claim 1, wherein the priming operation comprises bringingthe electronic device within receiving proximity of an NFC recipient. 8.The method of claim 7, wherein said readying said device to perform apayment transaction comprises: identifying said proximity NFC recipientis an NFC payment facility; successfully validating the identified useras authorized to perform the payment transaction via said electronicdevice; and receiving a user approval for performing the paymenttransaction.
 9. The method of claim 8, wherein said user approval forperforming a payment transaction comprises displaying a request for userinput at said electronic device, for both said identifying and said userapproval of said payment transaction, and further comprising: theprocessor identifying that said user input matches a known authorizeduser of the electronic device, before said readying said device toperform a payment transaction; and, disallowing the payment transactionby the device until said readying said device to perform the paymenttransaction is successfully completed.
 10. The method of claim 8,wherein said successfully validating the identified user comprises theprocessor successfully determining a match between: firstly, a userinput received via at least one of a set of user input sensors of theelectronic device; and, secondly, at least one of the set consisting of:predetermined user characteristics, and challenge-responses of anauthorized user, as stored in the electronic device.
 11. The method ofclaim 10, wherein said user input received via at least one of a set ofuser input sensors of the electronic device comprises a passcode entrysequence performed by a user input via the touch-screen display.
 12. Themethod of claim 10, wherein said predetermined user characteristicsstored within the electronic device comprise known user biometric touchcharacteristics.
 13. The method of claim 10, wherein said predetermineduser characteristics stored within the electronic device comprise aknown user touch gesture.
 14. The method of claim 10, wherein saidpredetermined user characteristics stored within the electronic devicecomprise a known user motion of the device.
 15. The method of claim 1,wherein the input comprising a priming operation is a user input. 16.The method of claim 15, wherein said readying said device to perform apayment transaction comprises: successfully identifying said identifieduser from said user input; and, wherein said user input furthercomprises a user approval for performing the payment transactionreceived from said identified user; and, wherein said successfullyidentifying further comprises said electronic device validating anauthorized user of said electronic device by comparing a user-touchinput received via a touch input sensor on the electronic device with arecognized valid user-touch, stored in a memory of the electronicdevice; and, wherein said user approval for performing the paymenttransaction further comprises: visually presenting information of thepayment transaction on the touch screen display of said electronicdevice; visually presenting a request for user approval of the paymenttransaction via touch input at said electronic device; and, subsequentto receiving a user-touch input from an identified user, approvingperformance of said payment transaction via said electronic device. 17.The method of claim 1, further comprising: prior to the primingoperation, transmitting the issued payment information for receipt by apayment processing authority; and, in response to said transmittingissued payment information, receiving a static device accountinformation that is unique to the electronic device.
 18. The method ofclaim 17 further comprising: combining said limited-use paymentinformation and said static device account information, to produce acombined payment information; transmitting said combined paymentinformation, in place of the issued payment account information said NFCinterface for receipt by an NFC recipient; and receiving, via the NFCinterface, and in response to transmitting said combined paymentinformation, transaction processing information reflecting a status ofsaid payment transaction.
 19. The method of claim 18, wherein thedynamically generating further comprises dynamically generating thelimited-use payment information based on payment processing authoritysecret information.
 20. The method of claim 19, wherein the limited-usepayment information is based on at least one secret information sharedby both the electronic device and the payment processing authority. 21.The method of claim 17, wherein the dynamically generating furthercomprises dynamically generating the limited-use payment informationbased on payment processing authority secret information.
 22. The methodof claim 21, wherein the limited-use payment information is based on atleast one secret information shared by both the electronic device andthe payment processing authority.
 23. The method of claim 1, furthercomprising: prior to the priming operation, transmitting the issuedpayment information, user information and device-specific information;and, in response to transmitting said issued payment information, userinformation and device-specific information, receiving a paymentprocessing authority supplied secret information.
 24. The method ofclaim 23 wherein said payment processing authority supplied secretinformation comprises static device account information.
 25. The methodof claim 24 wherein said static device account information comprises astatic device account number and a static device-specific expirationdate.
 26. The method of claim 25 wherein the static device accountnumber is associated with the selected issued payment account on saidelectronic device.
 27. The method of claim 1, wherein the dynamicallygenerating further comprises dynamically generating the limited-usepayment information based on payment processing authority secretinformation.
 28. The method of claim 27 wherein the limited-use paymentinformation is based on at least one secret information shared by boththe electronic device and the payment processing authority; and furtherwherein the at least one secret information is not exchanged whenpreforming the payment transaction.
 29. A system for completing apayment transaction, the system comprising: an electronic deviceoperable to receive a priming operation, wherein the priming operationis operable to ready said device for performing a payment transaction byan identified user, and, wherein the electronic device furthercomprises: a processor; a near field communications (NFC) interfacecoupled to the processor and operable to receive a payment requestassociated with the payment transaction; and, a touch-screen displaycoupled to the processor, and wherein the electronic device is operableto cause the display of information reflecting device-readiness, thepayment request, and an image representing at least one selected issuedpayment account; wherein the electronic device is operable todynamically generate limited-use payment information based on asequential counter count from the electronic device; wherein theelectronic device is operable to store a static device-specific useraccount information; wherein the electronic device is operable totransmit a combination of said dynamically generated limited-use paymentinformation and said static device-specific user account information toan NFC recipient via, said NFC interface for use in connection withpayment transaction in place of information associated with saidselected issued payment account; wherein the electronic device isoperable, subsequent to transmission of said combination, to receive astatus information reflecting a status of said payment transaction; and,wherein the touch-screen display is operable to display as indication ofsaid status information.
 30. The system of claim 29, wherein thedynamically generated limited-use payment information comprises acryptogram number.
 31. The system of claim 29, wherein thedevice-specific user account information comprises static device accountinformation.
 32. The system of claim 31, wherein the static deviceaccount information comprises a static device account number that isunique to the electronic device.
 33. The system of claim 32 wherein thestatic device account information further comprises a static deviceaccount expiration date.
 34. The system of claim 32 wherein thesequential counter count is changed per payment transaction.
 35. Thesystem of claim 34 wherein the electronic device is operable to transmitissued payment account information and in response thereto, to receivethe static device account information.
 36. The system of claim 29wherein the electronic device is further operable to dynamicallygenerate the limited-use payment information based on a sharedinformation: from said user, information associated with said electronicdevice, information associated with said selected, issued paymentaccount, and at least one secret; and, wherein said shared informationis shared by both the electronic device and a payment processingauthority.
 37. The system of claim 36 wherein the electronic device isfurther operable to dynamically generate the limited-use paymentinformation based on payment processing authority secrets.
 38. Thesystem of claim 29 wherein the electronic device is further operable todynamically generate the limited-use payment information based onpayment processing authority secrets.
 39. An electronic device forcompleting a payment transaction, the electronic device comprising: aprocessor; a memory coupled to the processor, wherein the memory isoperable to store information associated with use of an issued paymentaccount and wherein the payment authority information comprises a secretinformation; a near field communications (NFC) interface coupled to theprocessor and operable to receive a payment request associated with thepayment transaction; a user interface coupled to the processor; a userinput device coupled to the processor; and, wherein said processor isoperable to: responsive to a priming operation, wherein the primingoperation is operable to ready the device to perform the paymenttransaction, cause the display of information associated with thepayment request; cause the display of an image representing at least oneuser-selectable issued payment account; and, dynamically generate alimited-use payment information based on a per-transaction sequentialparameter originating from the electronic device, and secret informationassociated with a selected issued payment account; and, cause thetransmission, via said NFC interface, a payment information combinationcomprising the dynamically generated limited-use payment information andsaid payment authority information, for receipt by an NFC recipient;wherein the NFC interface is operable, in response to transmitting saidpayment information combination, to receive status informationreflecting a transaction processing status of said payment transaction;and wherein the user interface is operable to provide an indication ofthe status information.
 40. The device of claim 39 wherein the paymentauthority information comprises information that is unique to theelectronic device.
 41. The device of claim 39 wherein the paymentauthority information comprises a secret information shared by both theelectronic device and a payment processing authority.
 42. The device ofclaim 41 wherein the processing authority information comprises a staticdevice account number.
 43. The device of claim 42 wherein the processingauthority information further comprises a static device accountexpiration date.
 44. The device of claim 39 wherein the processor isoperable to cause the transmission of issued payment account informationand in response thereto, to receive the processing authorityinformation.
 45. The device of claim 39 wherein the dynamicallygenerated limited-use payment information comprises a cryptogram number,and further wherein the processor is operable to cause transmission, viasaid NFC interface, of a payment information combination comprising thedynamically generated limited-use payment information and at least aportion of said payment authority information in connection with thepayment transaction in place of at least a portion of the paymentinformation associated with said selected issued payment account. 46.The device of claim 45 wherein the processor is operable to cause thetransmission of issued payment account information and in responsethereto, receive the processing authority information.
 47. The device ofclaim 46 wherein the processing authority information comprises a staticdevice account number.
 48. The device of claim 47 wherein the processingauthority information further comprises a static device accountexpiration date.
 49. The device of claim 39, wherein said user interfacecomprises a display and wherein said user input device comprises a touchpanel disposed adjacent to said display and wherein further theprocessor is operable to identify an authorized user by validating avalid user passcode input to the touch panel.
 50. The device of claim39, wherein said user interface comprises a display and wherein saiduser input device comprises a touch panel disposed adjacent to saiddisplay and wherein further the processor is operable to identify anauthorized user by displaying a security challenge question presented onthe display and receiving a correct user response thereto.
 51. Thedevice of claim 39, wherein said user input device comprises a biometricsensor operable to detect a user touch of said electronic device andwherein further the processor is operable to identify an authorized userby biometric sensing of a continuous user touch.
 52. The device of claim39, wherein said user interface comprises a display and wherein saiduser input device comprises a touch panel disposed adjacent to saiddisplay and wherein further the processor is operable to identify anauthorized user by biometric sensing of a user touch at the touch panel.53. The device of claim 39, wherein said user interface comprises adisplay and wherein said user input device comprises a touch paneldisposed adjacent to said display and wherein further the processor isoperable to identify an authorized user by biometric recognition of avalid user identification.
 54. The device of claim 39, wherein said userinput device comprises an army of motion sensors and wherein further theprocessor is operable to identify an authorized user by detecting arecognized user displacement of the array of motion sensors.
 55. Thedevice of claim 39, wherein the processor is operable to: receive auser-selection of an issued payment account presented on the userinterface, received the user input device coupled to the processor, andresponsive thereto, select from the memory a specific processingauthority information corresponding to the user-selected issued paymentaccount information, and use at least a portion of said specificprocessing authority information in place of at least a portion of theissued payment account information to generate a combined paymentinformation to complete a payment transaction per the inputuser-selection.
 56. An electronic device for completing a paymenttransaction, the electronic device comprising: a processor; a memorycoupled to the processor, wherein the memory stores a payment authorityinformation associated with a user-selectable issued payment account,and wherein the payment authority information includes a secretinformation; a near field communications (NFC) interface coupled to theprocessor and operable to receive a payment request associated with thepayment transaction; a user interface coupled to the processor; a userinput device coupled to the processor; and, wherein said processor isoperable to: responsive to a priming operation, wherein the primingoperation is operable to ready the device to perform the paymenttransaction, cause the display of information associated with thepayment request; cause the display of an image representing theuser-selectable issued payment account; and, dynamically generate alimited-use payment information based on a per-transaction sequentialparameter originating from the electronic device, and the secretinformation associated with the user-selectable issued payment account;and, cause the transmission, via said NFC interface, of a paymentinformation combination comprising, the dynamically generatedlimited-use payment information and at least a portion of said paymentauthority information, for receipt by an NFC recipient; wherein the NFCinterface is operable, in response to transmitting said paymentinformation combination, to receive status information reflecting atransaction processing status of said payment transaction; and whereinthe user interface is operable to provide an indication of thetransaction status information.
 57. The device of claim 56, wherein thepayment authority information comprises information that is unique tothe electronic device.
 58. The device of claim 57, wherein the paymentauthority information comprises a static device account number.
 59. Thedevice of claim 58, wherein the payment authority information furthercomprises a static device account expiration date.
 60. The device ofclaim 56, wherein the secret information is shared by both theelectronic device and a payment processing authority.
 61. The device ofclaim 56, wherein the processor is operable to cause the transmission ofissued payment account information and in response thereto, to receivethe payment authority information.
 62. The device of claim 56, whereinthe dynamically generated limited-use payment information comprises acryptogram number, and further payment information combination is usedin place of at least a portion of fixed payment information associatedwith said user-selectable issued payment account.
 63. The device ofclaim 62, wherein the processor is operable to cause the transmission ofissued payment account information and in response thereto, receive thepayment authority information.
 64. The device of claim 63, wherein thepayment authority information comprises a static device account number.65. The device of claim 64, wherein the payment authority informationfurther comprises a static device account expiration date.
 66. Thedevice of claim 56, wherein said user interface comprises a display andwherein said user input device comprises a touch screen interface of thedisplay, and wherein further the processor is operable to identify anauthorized user by validating a valid user passcode input to the touchscreen interface.
 67. The device of claim 56, wherein said userinterface comprises a display and wherein said user input devicecomprises a touch screen interface of the display, and wherein furtherthe processor is operable to identify an authorized user by displaying asecurity challenge question presented on the display and receiving acorrect user response via said touch screen interface of the display.68. The device of claim 56, wherein said user input device comprises abiometric sensor operable to detect a user touch of said electronicdevice and wherein further the processor is operable to identify anauthorized user by biometric sensing of said user touch.
 69. The deviceof claim 56, wherein said user interface comprises a display and whereinsaid user input device comprises a touch screen interface of the displayand wherein further the processor is operable to identify an authorizeduser by biometric sensing of a user touch at the touch screen interface.70. The device of claim 56, wherein said user interface comprises adisplay and wherein said user input device comprises a touch input ofthe electronic device and wherein further the processor is operable toidentify an authorized user by biometric recognition of a valid useridentification via the touch input.
 71. The device of claim 56, whereinsaid user input device comprises an array of motion sensors and whereinfurther the processor is operable to identify an authorized user bydetecting a recognized user displacement of the array of motion sensors.72. The device of claim 56, wherein the processor is operable toreceive, via the user input device, a user-selection of saiduser-selectable issued payment account presented on the user interface,and in response thereto, is further operable to select from memory thepayment authority information corresponding to selected user-selectableissued payment account, and is further operable to use said paymentinformation combination in place of at least a portion of fixed paymentinformation associated with said selected user-selectable issued paymentaccount.